Kusama Price Analysis: Will KSM again Showcase its Potential?


  • Kusama’s EMA(10) shows a downward trend.
  • Kusama currently trades near $38.07
  • The current trading volume of Kusama is at $19,686,951.00.
  • KSM/USD medium term support stood at $33.23.

25 April 2024 : In this article we will walk you through Kusama price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Kusama, Is KSM a good investment? Kusama support & resistance levels etc. But before diving deep into the KSM technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,360,610,775,792. The total trading volume stands at $84,896,674,120. Bitcoin shares 53.5 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $64,146.29 level after a decline of -3.89%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -3.38 percent reaching to $3,138.62 during the previous 24 hours.
While publishing this blog, BNB traded at $603.27, following a price change of -0.37%within the same time frame. SOL the native coin of Solana is down by -7.4 and currently trading at $145.82. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Kusama Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Kusama (KSM)

KSM Resistance Levels KSM Support Levels
Resistance Level 1 $42.28 Support Level 1 $36.23
Resistance Level 2 $45.33 Support Level 2 $33.23
Resistance Level 3 $48.33 Support Level 3 $30.18

Kusama Performance

The current Kusama price is $38.07, with a trading volume of $19,686,951.00 in the past 24-hours. Currently, KSM is up by 1.43% since yesterday with a market capitalization of $322,446,854.00 USD.

Kusama Price Analysis

KSM price analysis for 25 April 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Kusama.

Moving Averages Price Indicator
Simple Moving Average (10) 40.11 Sell
Exponential Moving Average (10) 39.74 Sell
Simple Moving Average (20) 41.33 Sell
Exponential Moving Average (20) 41.02 Sell
Simple Moving Average (50) 44.03 Sell
Exponential Moving Average (50) 43.80 Sell

The MACD line is standing below of the signal line after a crossover. Kusama investors need to wait for any directional change over the daily chart. The immediate resistance for KSM is found at $42.28, and a breakout from this level could leads towards the next resistance, which can be found at $45.33. On the other hand, if the bear take control and KSM price fails to break out above $42.28, it could fall back towards the crucial support at $36.23. While KSM’s Williams %R indicator is at -80.488 for the 14-day time period indicating a oversold condition and short term trend reversal is possible. Bulls can move the market in upward direction. RSI implying oversold phase while trading at 20 and is trying to break out of the bearish zone while highlighting massive bearish strength.

Conclusions

KSM price is moving in sideways direction. The battle between the bulls and the bears can result in moving the coin price in either direction. However, The investors are waiting for Kusama to make a one directional move to make a good entry in the market.